Open Banking Services Could Fuel Double Digit Growth

Calling it a key strategic initiative in their digital transformation programs, many large banks claim that providing open banking services for their commercial clients could lead to double-digit revenue growth, according to a global research report by Accenture. According to the study, 90 per cent of large banks said they plan to provide open banking services for their commercial clients, with more than half (54 per cent) of large banks expecting open banking to help them grow their revenues up to 10 per cent and another one-third (35 percent) expecting it to help them grow their revenues up to 20 per cent. Source.